Dogecoin Price Analysis Indicates Potential Surge Toward $1.60

Recent analysis by Charting Guy highlights a bullish outlook for Dogecoin, potentially targeting $1.60. Key points include:

The current price is $0.2219, up 8.7% today.
A broad ascending wedge formed over nearly two years shows support rising from $0.06 to $0.17 and projects resistance levels of $1.10–1.60.
Fibonacci retracement levels indicate significant thresholds:
- 0.382 level at $0.1399
- Psychological level at $0.20
- 0.50 level at $0.1933
- Golden ratio at 0.618 ($0.2671)
Historical patterns suggest a potential repeat of past price behavior that could lead to significant gains.
The Relative Strength Index (RSI) shows signs of a bullish crossover, indicating upward momentum.

Traders are advised to monitor the internal trend line; a decisive close above it may confirm a breakout. A failure to maintain support at $0.20 could revert focus back to wedge support near $0.17.

Current trading status shows DOGE at $0.22.